Iress to deliver automated admin to ESSSuper
Iress will offer an automated administration service for superannuation funds to improve efficiency and member experience, it has been announced.
The technology firm has signed an agreement with Emergency Services and State Super (ESSSuper) to deliver the service called Automated Super Admin.
ESSSuper chief executive, Mark Puli said the super industry needed to evolve its transactional functions to be fully automated to further enhance the member experience to provide them with 24/7 access to their funds.
“ESSSuper believes that, in partnership with Iress, we can deliver cost-effective automated services complemented by out locally-based call centre and member engagement teams.”
Iress chief executive, Andrew Walsh, said the trend was to in-source operations closest to the super fund members such as contact centres and investment management.
“Conversely, super funds are seeking to outsource functional services including administration. Funds are also wanting greater automation for accuracy, and greater efficiency to reduce operational costs thereby creating capacity to invest in transformation and higher-value services for members,” he said.
Iress said the service would allow funds to:
- Deliver savings and sustainable efficiencies;
- Focus on core high-value services, leveraging IRESS’ technology platform, which was open and accessible through APIs;
- Reduce reliance on manual processes; and
- Focus their efforts on members.
Recommended for you
AMP is to launch a digital advice service to provide retirement advice to members of its AMP Super Fund, in partnership with Bravura Solutions.
Unveiling its performance for the calendar year 2024, AMP has noted a “careful” investment in bitcoin futures proved beneficial for its superannuation members.
SuperRatings has shared the median estimated return for balanced superannuation funds for the calendar year 2024, finding the year achieved “strong and consistent positive” returns.
The second tranche of DBFO reforms has received strong support from superannuation funds and insurers, with a new class of advisers aimed to support Australians with their retirement planning.
